Northern Trust Automates Data Extraction for Alternatives

As part of its initiative to digitize alternative asset servicing, Northern Trust has launched an artificial intelligence-powered solution to extract unstructured investment data from alternative asset documents and make it accessible and actionable for asset owner clients. Built in collaboration with Microsoft Azure Applied AI Services and business and consulting firm Neudesic, the proprietary solution transforms crucial information such as capital call notices, cash and stock distribution notices, and capital account statements from a variety of unstructured formats into digital, actionable insights for investment teams. According to a story in MarketsMedia news, the new AI-powered data extraction capabilities will read stored documents and fund manager reports on holdings and performance of hedge funds, private equity and other alternative assets and pull out data points including asset names, currencies and market value. The two functions – document capture and data extraction – create an end-to-end, scalable, cloud-based process capable of moving from document receipt notification to digitized, accounting-ready data in just minutes.Northern Trust Automates Data Extraction for Alternatives.